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Unemployment
The unemployment rate held at 2.7% in Minnesota in April, on a seasonally adjusted basis, for the sixth consecutive month.
The number of unemployed ticked up to 85,199 workers and the number of employed increased to 3,016,184 workers. The labor force grew to 3,101,383 workers, and the labor force participation rate held at 68%.
The U.S. unemployment rate increased to 3.9% in April, on a seasonally adjusted basis. The labor force participation rate held at 62.7%.
Unemployment Rates |
|
April
2024 |
March
2024 |
April
2023 |
Minnesota |
Seasonally Adjusted |
2.7% |
2.7% |
2.8% |
Not Seasonally Adjusted |
2.7% |
3.2% |
2.8% |
United States |
Seasonally Adjusted |
3.9% |
3.8% |
3.4% |
Not Seasonally Adjusted |
3.5% |
3.9% |
3.1% |
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Monthly Employment
Minnesota’s monthly job growth was positive in April as the state added 3,900 jobs, or a 0.1% increase.
Seven of eleven published supersectors posted positive growth. Construction added 1,100 jobs; Manufacturing added 1,300 jobs; Trade, Transportation and Utilities added 500 jobs; Financial Activities added 1,800 jobs; Professional and Business Services added 700 jobs; Education and Health Services added 300 jobs; and Leisure and Hospitality added 600 jobs.
Four published supersectors posted decreases. Mining and Logging lost 100 jobs, Information lost 200 jobs, Other Services lost 500 jobs and Government lost 1,600 jobs.
U.S. total payroll employment was up in April, adding 175,000 jobs, or 0.1%. Private sector employers added 167,000 jobs (0.1%) on a seasonally adjusted basis. Minnesota outperformed the nation in five supersectors: Construction, Manufacturing, Financial Activities, Professional & Business Services and Leisure & Hospitality
Minnesota Payroll Employment - Seasonally Adjusted |
|
April 2024 |
Minnesota |
U.S. |
Number of Jobs
Gained or Lost
over the Month |
Percent
Change |
Percent
Change |
Total Nonfarm Employment |
+3,900 |
+0.1% |
+0.1% |
Total Private |
+5,500 |
+0.2% |
+0.2% |
Mining & Logging |
-100 |
-1.5% |
-0.5% |
Construction |
+1,100 |
+0.7% |
+0.1% |
Manufacturing |
+1,300 |
+0.4% |
+0.1% |
Trade, Transportation, & Utilities |
+500 |
+0.1% |
+0.2% |
Information |
-200 |
-0.5% |
-0.3% |
Financial Activities |
+1,800 |
+1.0% |
+0.1% |
Professional & Business Services |
+700 |
+0.2% |
0.0% |
Education & Health Services |
+300 |
+0.1% |
+0.4% |
Leisure & Hospitality |
+600 |
+0.2% |
0.0% |
Other Services |
-500 |
-0.4% |
+0.1% |
Government |
-1,600 |
-0.4% |
0.0% |
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Annual Employment
Minnesota over the year (OTY) payroll employment growth stood at 44,507 or 1.5%, the same as March. The private sector added 23,889 jobs, or 0.9% in April, which was higher than March’s 0.8% growth.
U.S. total nonfarm over-the-year job growth stood at 1.8% in April, down from March’s 1.9% and private sector employment growth was at 1.7%, the same as March.
Four of the eleven published supersectors in Minnesota lost jobs over the year. Manufacturing lost 1,906 jobs (0.6%), Information lost 2,253 jobs (5%) Financial Activities lost 3,543 jobs (1.9%), and Professional and Business Services lost 10,196 jobs (2.6%).
Seven supersectors added jobs over the year. Annual job growth in Minnesota was the highest in Government, which added 20,618 jobs, or 4.9%. Mining and Logging added 188 jobs (3%). Construction added 201 jobs (0.2%). Trade, Transportation and Utilities added 4,899 jobs (0.9%). Education and Health Services added 25,018 jobs (4.5%). Leisure and Hospitality added 8,722 jobs (3.4%), and Other Services added 2,759 jobs (2.5%).
Six supersectors showed strength over the year in Minnesota compared to the nation. Mining and Logging was up 3% (versus 0.3%); Trade, Transportation and Utilities was up 0.9% (versus 0.7%); Education and Health Services was up 4.5% (versus 4.3%); Leisure and Hospitality was up 3.4% (versus 2.3%); Other Services was up 2.5% (versus 1.8%) and Government was up 4.9% (versus 2.8%).
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